To undergo a career in medicine is to willingly accept a sacrifice. You spend extended years essentially as medical students. You study even more arduous hours and train as hard or even more so in a post-graduate environment. All these are weighed down by expenses, whether tuition fees, books, equipment, or even daily living expenses.
It takes a while to get on your financial footing while studying to become a medical doctor, but one can only imagine the feeling of all that hard work paying off. However, dreams are not always enough to sustain life. Especially when you also aspire to reach a standard of living for yourself and your family, it might be prudent for doctors to also consider alternative sources of income.
Real estate investment may just be the golden ticket to financial freedom for doctors. When you don’t have to depend on your hours in practice just to sustain a living, you wouldn’t be pressured to always be in a hospital or clinic. You get to control your life and have a better hold of your time. Maybe it might even lead to a more meaningful practice in medicine.
No doubt being a doctor can be a gateway to a good income. However, times are changing. Being solely dependent on your medical practice may not be enough to achieve the life you’ve always wanted.
Considering the field alone, job advancement may not be so easy in providing health services in the health care system. With the competition in residency and other forms of training alone after graduating, it will be hard to get into a financial position wherein you wouldn’t need to work duty after duty. Even when you get into a residency program with a constant salary, your money will always depend on your time.
This all boils down to the clinical practice in the medical field being an active source of income. You have to go to work to earn. There is nothing wrong with relying on this to get by. It’s possible to still earn and save substantially well into retirement. However, stability wouldn’t hurt and generate an income passively, even less so. This is where investing in real estate comes into the picture.
Real estate is real property that consists of land ownership and its improvements. To buy real estate, is to own land and have the freedom to make use of its space, whether it be for use, rent, sell, and whatnot.
There are different types of real estate. Mainly, these are:
There are many benefits unique to investing in real estate compared to that of other ventures like stocks. In general, these include passive income, stable cash flow, tax advantage, diversification, and leverage.
These all may sound too alien and complex to a mind more medically-inclined, but people also ask, why should doctors invest in real estate anyways?
One reason is that real estate as an passive investment option is low-risk in profile. A doctor’s substantial income in salary and payment fees can be used better by buying property rights and gaining income passively from activities done on their property. The alternative is to put money in risky ventures like the stock market. This is more volatile, given the unpredictability of the world economy. Therefore, real estate might be one of the safest investment options.
Another reason is that profit from real estate may be tax-free if certain conditions are met. Suppose the property provides therapeutic or medical services as that from a doctor, therapist, psychologist or any other field in medicine. In that case, you may exclude the entire property value from taxable income. This essentially puts a doctor in a good position to practice his career while gaining profit from other establishments on his property.
Third, real estate only appreciates as time passes. Properties become more scarce. Rents become more expensive. Property-dependent business activities may boom. These are just some ways by which real estate cash flow can increase over time. It doesn’t matter if it’s residential real estate or commercial real estate. This makes for a good long-term investment for a doctor thinking well past retirement and even beyond for his family.
Real estate investing can be a complicated business. But as in all things, one of the hardest hurdles is knowing how to get started. A simple guide to investing in real estate is as follows:
Another thing to consider is what type of real estate strategy you prefer:
Again, that’s as far as a simple guide can go. But getting the ropes of the real estate industry can be enough to earn a substantial amount so long as you make informed decisions.
If you’re looking to get into the real estate business, maybe Brittany is a great start for you.
Brittany, the premier name in luxury real estate development in the Philippines, is a subsidiary of Vista Land & Lifescapes, the largest and most successful home builder in the Philippines and pioneer in themed real estate development. You can learn more about Brittany here.
With Brittany’s Old World European and American-themed projects, Brittany creates masterpieces of upscale living for sophisticated home buyers with a taste of artful living. Here are just some of the properties they offer.
For instance, the Lausanne at Crosswinds is one unique luxury estate offering at Brittany. Crosswinds is the country’s only pine estate, with over 35,000 pine trees. It is decked with quaint chalets offering the fun of a first-class Swiss resort and commercial strip. Because of its charm and prime location, homes in Crosswinds are in very high demand. The 24-hectare expanse of the Lausanne is home to this premium amenity. The area also boasts views of the lush hills of Tagaytay, the calm Laguna de Bay, and the skyline of the Metro.
Luxury living is synonymous with Vista Alabang. As the flagship development in Alabang of Brittany Corporation, Vista Alabang’s 1,500-hectare Italian-inspired community aims to indulge you in its grandeur. This charming residential community draws inspiration from Southern Europe with its charming streetscape, design, and luxury living.
A life in medicine is a life of strife and dedication. However, a doctor doesn’t need to sacrifice his whole life for it. It wouldn’t hurt to have an alternative source of income, one that doesn’t need to be so time-consuming.
Real estate investing is particularly suitable for physicians as it provides a low-risk avenue for their hard-earned money with all the potential to sustain them well beyond their years in practice. It may take a bit of time and effort to get into, but the long-term benefits are almost unimaginable.
With its reputation as a premier luxury real estate developer, Brittany Corporation may just be a great start in your investing journey. Get in contact with them now. See their property listings here. See here for FAQ and other Brittany Corp. News.
